Wells Fargo lowered the firm’s price target on Colgate-Palmolive (CL) to $92 from $100 and keeps an Underweight rating on the shares. The firm notes Colgate-Palmolive’s Q3 was solid, but the stock is down. In Wells’ view, of greater importance is trends should keep normalizing, which is normal, against a valuation that still isn’t as normal, namely with a bit of EPS recalibration for 2025.
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